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David Cameron lobbied Beijing on behalf of a Tory peer and former donor in order to help establish a £500m ‘UK-China’ investment fund.

The former prime minister met with a Chinese official on 20 September to discuss the proposal, which is being backed by his long-term associate Lord Chadlington.

According to The Times, Mr Cameron may consider taking a role in the fund should it be established, after promising talks were held in Beijing with Ma Kai, the head of Beijing’s finance ministry.

The pair’s friendship dates back to 2000, when Mr Cameron was seeking to become the Conservative candidate for Witney. Lord Chadlington was the president of the local Conservative association at the time.

The emergence of the talks will likely raise questions in Westminster as to whether rules preventing former ministers from exploiting their public roles for financial gain are sufficient.

However, it is understood that Mr Cameron did not break any rules and was not required to seek clearance from the Advisory Committee on Business Appointments because the fund - and any future role within it - are yet to be established.

A spokesman for Mr Cameron said: “David Cameron recently visited China to continue to build on the close bilateral relationship he established when prime minister.

“One idea that was raised was the creation of a new UK-China Fund. This is a concept David Cameron would support, although no final decision have been taken about any role he might play if such a fund were to start; this is something under consideration and, of course, the correct processes would be followed before any role was agreed or announced.”

They pointed out that Mr Cameron had made his trip to China public knowledge in a message posted on Twitter on September 27.

It is understood that Mr Cameron and Lord Chadlington visited China together.

Asked about his involvement the peer said that he had been working on the plan for the fund for three years but that Brexit had led to much more interest.